Now, the down side of rentals - Posted by Bud Branstetter
Posted by Bud Branstetter on February 16, 2001 at 09:38:30:
First, determine your eligibility for VA. Next get with a mortgage broker to see what down and closing costs are needed to get into your new house. This may guide you to make your decision.
Now, as always, the problem with rentals are tenants and toilets. People like Phil are experienced landlords. He can tell you the horror stories of tenants maintaining the place, skipping in the middle of the night, or just getting them to pay on time. This is not to scare you but to be realistic if you have never been a landlord. Yes, there are ways to help, L/O’s, owner financing, Pactrusts. You give up something like future appreciation in some of these in return for less hassle or higher payments. Don’t go into landlording without studying something about it.